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Chapter 15

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Ryerson University
Information Technology Management
ITM 102

Chapter 15 Managing Knowledge Opening Case Content Management for the Royal Canadian Mind How to Maximize Your Web PresenceThe Royal Canadian Mints experience shows how organizational performance can benefit by making organizational knowledge more easily available It is done through organizing its knowledge about how to buy from the Mint whether the buyer is a Canadian individual or a foreign government the Mind has increased its efficiency and ability to serve customersBy making content management user friendly and efficient the new system has made the Mind much more efficient and profitable 155 The Knowledge ManagementKnowledge management and collaboration systems are among the fastest growing areas of a corporate and government software investmentKnowledge management has become an important theme at many large business firms as managers realize that much of their firms value depends on the firms ability to create and manage knowledgeThere are dimensions of knowledge data information knowledge and wisdomData is the streams of raw facts representing events occurring in organization or the physical environment before they have been organized and arranged into a form that people can understand and useTo transform data into information a firm must expend resources to organize data into categories of understanding such as monthly daily regional or store based reports Then to transform information into knowledge a firm must expend additional resources to discover patterns rules and contexts where they knowledge works Wisdom is a thought to be the collective and individual experience of applying knowledge to the solution of problems Wisdom involves where when and how to apply knowledgeKnowledge is both an individual attribute and a collective aattribute it is a cognitive even a physiological event that takes place inside peoples headKnowledge residing in the minds of employees that has not been documented is called tacit knowledge while knowledge that has been documented is called explicit knowledgeAnother way to categorize knowledge is through static or dynamic Static knowledge management refers to the knowledge involved being always available it can be accessed retrieved used and then reaccessed Static knowledge is best supported by electronic document management systems and tagging Dynamic knowledge refers to knowledge transfer and knowledge sharing Dynamic knowledge management is best supported by discussion forums virtual communities and email Organizations that learn then adjust their behavior to reflect that learning by creating new business processes and by changing patterns of management decision making this is called organizational learningKnowledge management refers to the set of business processes developed in an organization to create store transfer and apply knowledge it increases the ability of the organization to learn from its environment and to incorporate knowledge into its business processesKnowledge Acquisition organization acquire knowledge in a number of ways depending on the type of knowledgeOrganizations acquire knowledge by developing online expert networks so that employees can find the expertKnowledge Storage generally involves the creation of a database Document management systems that digitize index and tax documents according to a coherent framework are large databases adapt at storing collections of documentsExpert systems also help corporations preserve the knowledge that is acquired by incorporating that knowledge into organizational processes and culture
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